The Ica Group Inc

Overview

Mission

The ica group's mission is to change the nature of work by advancing businesses and institutions that center worker voice, grow worker wealth, and build worker power.

What it reported doing in 2024

Community-based development provides services that creates jobs for low income communities and save jobs by helping stabilize communities and assist businesses that are at risk to avert plant closures. We promote worker ownership as a means to improve job quality and help low income individuals accrue wealth. We provide assistance to a number of not for profit organizations regarding cooperative development and work with groups interested in forming cooperatives. We produce publications, hold seminars and workshops and provide in-house education training for existing and future worker-owned and community based businesses.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
042628399
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Florence, MA, USA
Phone
6172328765
Rating
85
Verdict
STRONG
Rating confidence
Standard

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 100
  • Accountability: 83
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.9%; rating input score 89
  • Program expense ratio: 84.4%; rating input score 84
  • Fundraising efficiency: $10.64 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 77.8%; rating input score 78; 14th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.4%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 1.07; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 88.9% of revenue deployed · 84.4% of spending went to programs
  • Governance: 7 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $2.6M in reported program spending
  • Leadership: top reported pay $128K · 11 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors and related organizations
  • Filing history: 10 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

11 people listed

Highest reported compensation

  • JONATHAN WARD (DIRECTOR OF LENDING): $128,353 total reported compensation
  • KATRINA KAZDA (DIR. & VP OF HOME CARE INNOVATIONS): $127,767 total reported compensation
  • DAVID HAMMER (PRESIDENT & EXECUTIVE DIRECTOR): $125,117 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.